Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1887-12-02
THE FIDELITY SWINDLE.
tsRpER's METHODS OF MANtPuLAr.
ING MINUS QUANTITIES.

-M.m 1iltN2S &SNfs - ii1Srf H-IE
How the Fidelity Dans Came 10 Grie
Through the Efrorts of Its omcers Il
CORNER the wheat nlarksI-rhs Naturs
OF tho Deal.
CINCINNATI, o., Dec. lin the Harper
trial Mr. Hoyt said that he went to CHI
cagee the next day after the wheat market
broke. and went directly to the Exchange
National bank. There he met Joseph w.
wiltshire Kershaw, Irwin. the bank
cashier, aud se9AaAl of the bank officials.
Whlie in Chicago he received two drafts
for $lt,iI1, each, executed bS The Fidel.
ity bank. The eros examination of Hoyt
was brief. He said he WAS a broker ON
margins. Had known Hopkins forsAbont
two speara, but had never met Harper In
his life.
Judge .Jackson-stDid any valuable
consideration move Hopkins when he
gave these checkssn
mo, Sir"
Hoyt's testimony makes out a strong
case against Hopkins. Hopkins has all
along maintained an air of injured limo
c%ence,'' but Hoyt showed him up as
either a sp%eculator for himself or as
Harper's agent.
The second witness for the government
vase J. Kershaw, a Chicago grain mer-
chant: he gave his testimony In q
straightforward manner, but rather
slowly. He denied having any dealings
with The Fidelity National bank; did not
know. Harper, never had any dealings
w NTH hyr. * A IA EE b,,,;,~o, .- -
through j. w. Hoyt and Wiltshire.
Eckert & Co. He also stated that ali
DRIFTS upon the Fidelity bank had been
honored.
Wm. Monroe, the third witness forthe
government, is manager of the bank of
Montreal, Chicago. The firm of Irwin.
Green a. Co, had an account with that
bank. in June. 1885, they deposited two
drafts drawn by the Fidelity National
bauk upon the Chemical National bank
Of New York, OF $4,000 each. Payment
on the drafts was stopped. The Fidelity
asked the reason why.
Augustus w. Green, of the firm of
Irwin, Green & Co, Chicago, testified
that he made purchases OF wheat for J.
W. Hoyt to the extent of nine millions
bushels. lIoyt gave security for part of
the purchase in drafts and letters of ad.
vice from the Fidelity bank, stating that
he bltd money there deposited to his
credit. There We're funds to the credit
OF Irwin, Green Go; in the Fidelity
amounting to over 500, 900. On cross
examination Mr.. Green stated that his
books did not show any dealings with
tie Fidelity. ALI transactions were in
the name of Iloyt. He. did not know
Harper.
Robert M. Orr, assistant cashier OF the
Exchange National bank, Chicago, was
called to the stand. Mr.. Orr presented
copies OF the account OF Kershaw 81 Co.
and Irwin, Green & Co. He explained.
Ell question of Mr., Wilson, that eispin.
dlesn were checks celtihe and paid over
the counter. Judge 9acNson inquired as
to the relevancy Of papers showing trans
actions between these Chicago firms and
The Chicago bank. Mr.. Burnett said the
Azs4g-nYernnlhnt proposed Ito ttracs tihess
thingssfrom the Fidelity National bank
te ito.ptathen to Irwin, Green 81 CO., Ker-
shaw y 60, to the American Exchange
bank,and back to the Fidelity III cross
examination the witness stated that the
Fidelity was n correspondent of his bank.
Howard Eekert, OF Wiltshire. Eckert
4 Co. was called. He said that his
ttrm sent about one million Collars 10 Chi
cago 20 buy wheat, but be forgot who
gave his trm the checks. They were
cashed at the Fidelity bank and
entered as cash OF that institutions
books. He was ordered to produce his
books.
Joseph Wiltshire was then called. He
SAID he was a grain dealer. He was
shown s 1900, 500 of checks endorsed by
Wiltshire, Eckert s. Co, on j. wiltshire.
and Identified all, saying he had endorsed
the checks. One check OF $1l. 600 was
shown witness and special attention
called to u. He said 1t was deposited at
the Fidsfity bank on the order Of Mr..
Harper, but what was received In return
Tor u he could not say. Wiltshire then
iesti1lea that there was an understanding
Y him aud Harper that the checks
Weresto pc protected whether there was
money in the bank or not. Mr.. Wilt
shire did not look at Harper once all tie
while he was on the stand. The latter
turned red when he heard his former as-
sociate giving such damaging testimony.
MAI Blackburn and Judge Wilson,
counsel Tor the defendant, looked at each
Other IN establishments, hut they did not
petray any treptdation. The Jury listened
very closely to Wiltshire's testimony. and
Judges jackson aud Samucls showed
their interest BY asking occasional cues.
tons.
Now, Mr.. Wiltshire, you have testi-
he'd that these checks were received by
the Fidelity under an arrangement made
in each Instance between yourself and r.
u Harper. Please state what the ar
rangem was with reference to the
Whea5 dealsn
A-Well, the arrangement was simply
that ne WAS to protect the wheat that he
- NaA GATrVinDp I'll SNltfyt ,aS u 49,
We We're called on for money, we were to
get It from him. In regard 10 the
checks, the understanding was that he
vas TO take caresof them when they were
deposited, and l presume he did 1t.
I-sHow often did you see Mr.. Harper
A-Nearly every day.
Q-pofietfmes more than once a dayY
A-Occasionally; yes, sir.
Q--How much wheat did you buy in
the aggregatea
A-There must have been, all fold.
nearly 20, 200, 900. That is, bought and
sold. Of course, some was bought and
sold again. II would change from one
month to another, and make a transfer.
It was really a purchase and sale.
" what was the amount you had on
hand at the time2o the breaka
Vel, over ID, 900, 600 bushels of
cash wheat, n have forgotten the
amour of option.
Q-About how muchf
A-Wcll, about FIVE or six million
bushels.
Q-Then YOU must have had about
twenty million bushels in round num-
berss
A-yes, sir.
Q-Dp you know, approximately, how
much loss you sustained on that amounts